47-4A105. Other definitions
A. In this chapter:
1. " Authorized account" means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, any account of the customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of that account.
2. " Bank" means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union and trust company. A branch or separate office of a bank is a separate bank for purposes of this chapter.
3. " Customer" means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders.
4. " Funds-transfer business day" of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing and transmittal of payment orders and cancellations and amendments of payment orders.
5. " Funds-transfer system" means a wire transfer network, automated clearing house or other communication system of a clearing house or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed.
6. " Good faith" means honesty in fact and the observance of reasonable commercial standards of fair dealing.
7. " Prove" with respect to a fact means to meet the burden of establishing the fact (section 47-1201, subsection B, paragraph 8).
B. Other definitions applying to this chapter and the sections in which they appear are:
1. " Acceptance" . Section 47-4A209.
2. " Beneficiary" . Section 47-4A103.
3. " Beneficiary's bank" . Section 47-4A103.
4. " Executed" . Section 47-4A301.
5. " Execution date" . Section 47-4A301.
6. " Funds transfer" . Section 47-4A104.
7. " Funds-transfer system rule" . Section 47-4A501.
8. " Intermediary bank" . Section 47-4A104.
9. " Originator" . Section 47-4A104.
10. " Originator's bank" . Section 47-4A104.
11. " Payment by beneficiary's bank to beneficiary" . Section 47-4A405.
12. " Payment by originator to beneficiary" . Section 47-4A406.
13. " Payment by sender to receiving bank" . Section 47-4A403.
14. " Payment date" . Section 47-4A401.
15. " Payment order" . Section 47-4A103.
16. " Receiving bank" . Section 47-4A103.
17. " Security procedure" . Section 47-4A201.
18. " Sender" . Section 47-4A103.
C. The following definitions in chapter 4 of this title apply to this chapter:
1. " Clearing house" . Section 47-4104.
2. " Item" . Section 47-4104.
3. " Suspends payments" . Section 47-4104.
D. In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.
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